Governance

Governance Roles and Responsibilities

Our Approach

Keyera believes that good governance plays an important role in building stakeholder confidence and achieving our business objectives. We have developed a mandate for our Board of Directors and terms of reference for each Committee of the Board that reflect this belief. We are committed to adopting and engaging in governance practices that are effective, responsive to the needs of our stakeholders and which emphasize substance over form.

Roles and Responsibilities

Keyera Facilities Income Fund is an unincorporated open-ended trust established in 2003 pursuant to a Declaration of Trust. While the Declaration of Trust has been amended several times since 2003, it continues to be the foundational document that governs the affairs of the Fund.

Pursuant to the Declaration of Trust, Computershare Trust Company of Canada has been appointed as the Trustee of the Fund. However, Computershare has delegated its powers to Keyera Energy Management Ltd., a wholly owned subsidiary of the Fund.

The Board of Directors of Keyera Energy Management Ltd. is directly elected by the Unitholders of the Fund each year at the annual meeting of Unitholders. The Board, which currently consists of nine directors, is responsible for providing effective, independent supervision of the Fund and its affiliates. An integral part of this fulfilling this responsibility is the development of and adherence to sound governance practices.

In carrying out its mandate, the Board of Directors has established three committees: an Audit Committee, a Compensation and Governance Committee and a Health, Safety and Environment Committee. Each of these Committees assists the Board in overseeing aspects of Keyera’s activities within their respective areas of expertise.

Overall, the Board and its Committees work together closely to advance the interests of the Fund, its affiliates and its Unitholders, in a way that integrates and respects the collective interests of employees, customers, suppliers the communities in which we operate and the general public, and to promote the long term goals of the Fund to grow value responsibly and in a sustainable manner.